VANCOUVER, August 16, 2012 - Ballard Power
Systems has announced purchase orders for 102 fuel cell
power generation systems to be delivered to the Company's new
Southeast Asian distributor, Cascadiant Inc. The systems will be
deployed in the networks of two wireless telecom customers in Indonesia, to provide reliable and
cost-effective backup power in the event of grid outages.
Ballard recently closed a transaction to acquire select assets
from IdaTech, a Ballard customer for the past several years. Assets
included product lines, distributor agreements (including
Cascadiant) and customer contracts.
Ballard had been supplying FCgen-1020ACS fuel cell stacks for
use in IdaTech systems, as that Company developed markets, built
key customer relationships and demonstrated the commercial
robustness of its direct hydrogen and methanol fuelled
products.
The transaction, in combination with Ballard's Dantherm Power
hydrogen systems, has enabled establishment of a comprehensive
portfolio of fuel cell power generation products for backup and
continuous power.
John Sheridan, Ballard's
President and CEO said, "The asset acquisition has given Ballard
immediate financial and strategic benefits. Financially, the
transaction is expected to be accretive for our revenue, EBITDA and
cash flow in 2012 and beyond. Strategically, the addition of
methanol fuelled systems provides Ballard with a complete set of
fuel cell power generation products, along with distributor and
customer relationships in leading markets for fuel cell
commercialization."
The purchase orders for 102 systems include direct hydrogen
ELECTRAgenTM-H2 systems, to be deployed in the network
of an Indonesian service provider in order to meet 'short duration
runtime backup power' requirements. In addition, the purchase
orders include methanol fuelled ELECTRAgenTM-ME systems
to be deployed in the network of a different Indonesian service
provider in order to meet 'extended duration runtime backup power'
needs. ELECTRAgenTM fuel cell power generation systems
are more financially attractive to customers, as well as being more
environmentally-friendly, than alternative lead acid battery or
diesel generator backup power solutions.
Marshall Towe, President and CEO
of Cascadiant said, "Backup power solutions are, by their nature,
critical elements of telecom networks. Therefore, the decision to
use fuel cell-based products has certainly been given careful
consideration by our customers. Moreover, we are very pleased to be
buying systems from Ballard, a clear leader in the fuel cell
industry."
About Ballard Power Systems
Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean
energy fuel cell products enabling optimized power systems for a
range of applications. Products deliver incomparable performance,
durability and versatility. To learn more about Ballard, please
visit www.ballard.com.